August 27, 2024 (MLN): The country secured external financing worth $436.39 million in July 2024 from multiple financing sources, the latest monthly report by the Economic Affairs Division (EAD) showed.
The government has budgeted $19.393 billion for the fiscal year 2024-25.
In the previous fiscal year that ended June 2024, Pakistan fell significantly short of its budget estimates of $17.62bn, securing just $9.81bn.
During July, of the $436.39, a sum of $425.92m was in the form of loans and the remaining $10.47m in grants from various sources.
Out of the total financing amount, the government obtained a $128.93m loan for non-project aid, which was in the form of program/budgetary support assistance to restructure Pakistan's economy.
The Ministry of Economic Affairs noted that the country continued to depend on foreign commercial borrowing as it amounted to $127.7m in July. This was obtained through Naya Pakistan Certificate.
Going into details made available by EAD, the disbursement from bilateral and multilateral development partners maintained a strong trend as it totaled $308.69m.
During the review period, the foreign assistance obtained by Pakistan through multilateral sources totaled nearly $201.01m.
The total financing through bilateral development partners stood at $107.68m.
